Browse 36,272 source-backed statutes, open stored provisions and move directly into source-grounded legal research.
36,272 statutes · page 1787 of 1814
United States — Kentucky legislation
20 statutes shown from 36,272 source-backed records
An adequate accounts-and-records system must be established and maintained for the fund, and the fund’s assets must be posted into the specified reserve accounts.
City-designated officers must draw warrants when the board requests in writing, and the treasurer may pay fund money only on a properly signed warrant; no warrant may be drawn unless the board orders it on the record.
The fund must keep paying annuities, pensions, and benefits from superseded pension funds.
Each member is deemed to authorize deductions for contributions and is treated as agreeing to have the amounts deducted from salary or picked up by the employer.
Most retirement and related benefits cannot be assigned, transferred, or attached, but child support orders are an exception.
Annuities must be paid in equal monthly installments as life annuities, with limited exceptions for error or specific contrary provision.
The city must pay the required contributions, allowances, annuities, benefits, and administration expenses covered by the referenced statutes.
A city covered by these KRS sections keeps that coverage even if its government form, class, or other status changes.
An interested person may ask the board for a rehearing within 20 days after notice, and the board must set the rehearing time and make a transcript; transcript costs are split equally.
An interested party may appeal a board order to circuit court within 20 days, but the petition and filing requirements must be met and the court’s review is mostly limited to the record.
A Circuit Court judgment may be appealed to the Court of Appeals.
This section was renumbered as KRS 95.991.
This section defines terms used in KRS 95.895 to 95.945.
Certain local government pension system governing bodies may create a pension investment fund, and participants may choose whether to join and may invest assets under board procedures.
The fund is for pooling participant resources, providing centralized services, allocating participation units based on invested asset value, and sharing earnings by unit ownership; pension liabilities are not shared among participants.
This section sets up how the fund’s board is formed and who appoints its members.
Board members serve without compensation, may get reimbursed for reasonable and necessary expenses, and the board controls its meetings and internal rules.
The board must hire qualified investment managers, and those managers must invest and reinvest the fund’s assets under fiduciary-style standards.
The board must hire one custodian for fund assets, and the custodian must safeguard securities, keep records, report monthly, and make payments and earnings available on the stated timelines.
The board may hire other people to help the fund and set their responsibilities and pay from the fund’s earnings.
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